12 Banks shun mortgage financing

Twelve out of the 31 banks in the country do not offer mortgage loans to customers, data from the Bank of Ghana (BoG) has shown. The data, which was released in the week ending February 17, showed that Access Bank, Capital Bank, Energy Bank, Fidelity Bank, First Atlantic Bank and First National Bank do not offer mortgage loans. Others include GT Bank, NIB, Omnibank, Societe Generale Bank, Sovereign Bank and the Universal Merchant Bank. The data on the Average Percentage Rate and Interest Rate…
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How to decide between building and taking a mortgage

There are generally four ways by which people in Ghana acquire property. They can inherit it, build it, buy it straight out or acquire it by taking a mortgage. Since not everyone has the fortune of inheriting property and very few people in Ghana can afford to buy property outright, this article will focus on building and acquiring property by taking a mortgage. Building a property is arguably the most popular way through which Ghanaians acquire property. The building is usually completed over…
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Here are four tips for a healthy property portfolio in Ghana

Review your mortgages Ask yourself this question. “When was the last time I reviewed my mortgages? There are always some competitive rates available in Ghana. It is always good to talk to your mortgage expert about the advantages and disadvantages of refinancing or fixing a part of your mortgage. It gives you the opportunity to have the best deal. Know how much your properties are worth  Ask yourself this question? “How much is the current value of my property?” With strong house price…

How to obtain a mortgage in Ghana?

A mortgage is a loan taken for the purpose of acquiring real estate or a loan secured by real estate. Because a home is one of the most expensive acquisitions anyone can make, mortgages are usually large sums paid over several years or a few decades. Shelter is a fundamental human need. Whether we build, buy, lease or rent we all have to make the decision to acquire a place to sleep in Ghana. The necessity of shelter, the desire by most people in Ghana to have their own home rather than rent,…